DUBLIN--(BUSINESS WIRE)--The "Positive Airway Pressure Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The positive airway pressure (PAP) market studied was anticipated to grow with a CAGR of nearly 4.6%, during the forecast period
The major factors attributing to the growth of the market are due to a rise in the global prevalence of sleep disorders such as sleep apnea owing to the rise in the sedentary lifestyle, physical inactivity, and poor dietary habits resultant increased obese population which was identified as the most common causative factor of sleep disorders.
For instance, according to the World Health Organization report, in 2016, about 650 million adults and 41 million children aged under five years were obese worldwide, leading to a rise in sleep apnea driving the market. Also, increased awareness of sleep apnea and risk factors such as cardiovascular indications and high blood pressure are expected to fuel the PAP market throughout the forecast period.
Key Market Trends
Continuous Positive Airway Pressure Devices are Expected to Hold the Largest Market Share in the Positive Airway Pressure Market
Continuous positive airway pressure (CPAP) devices attribute the largest share in the market owing to the factors such as it was used as a first-line PAP therapy to treat various sleep disorders. The massive demand for the CPAP devices is due to their proven efficiency in many sleep apnea patients in multiple cases such as airway blockages by controlling the air pressure with the help of a pump in the device to open up the blocked airways.
Furthermore, the increased preference of CPAP devices by the patients due to various advantages such as increased energy levels, improved mood, mental alertness, and quality of sleep increasing their demand contributing to the rise in the adoption of these systems fueling the growth of the market over the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the global PAP market throughout the forecast period. The dominance is due to factors such as the rising prevalence of diabetes, high blood pressure, obesity, obstructive sleep apnea (OSA), and pulmonary disorders, such as dyspnea in the United States, which is to higher demand for the PAP devices. For instance, according to reports published by the American Academy of Sleep Medicine (AASM) in 2018, about 29.4 million US citizens have OSA.
Still, only 20% of them were diagnosed with the treatment, which drives the market growth in the forecast period. Also, increased affordability with a rise in disposable income, presence of the aging population, rise in high levels of air pollution, and technological advancements in the region contributes to its outstanding share in the global market revenue during the forecast period.
The continuous positive airway pressure therapy market is moderately competitive and consists of several major players. In terms of market revenue, few of the prominent players currently dominating the market are vigorously making acquisitions with the other companies to their market positions across the globe and while others are launching new products.
For example, in March 2019, ResMed consolidated its leading role in Korea's CPAP and respiratory care market by acquiring HB Healthcare (HBH) to Help Millions of South Koreans Living with Sleep Apnea, chronic obstructive pulmonary disease (COPD) and other respiratory conditions contributing to the market growth.
Some of the companies which are currently dominating the market are Koninklijke Philips NV, ResMed Inc., Smiths Group PLC, 3B Medical Inc., and Apex Medical Corp.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Geriatric Population and Rise in Global Healthcare Expenditure, along with Growth in Disposable Income
4.2.2 Rise in Global Prevalence of Sleep Disorders, such as OSA and Advanced Technologies
4.3 Market Restraints
4.3.1 Complications Associated with the Use of these Devices in Patients with Diseases, like Bullous Lung Disease and Severe Nosebleeds
4.3.2 Lack of Awareness about the Disease and Availability of Devices in Emerging Economies
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1.1 Continuous Positive Airway Pressure (CPAP) Devices
5.1.2 Automatic Positive Airway Pressure (APAP) Devices
5.1.3 Bilevel Positive Airway Pressure (BiPAP) Devices
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Koninklijke Philips NV
6.1.2 Apex Medical Corp.
6.1.3 Compumedics Limited
6.1.4 3B Medical Inc.
6.1.5 Medical Depot Inc.
6.1.6 ResMed Inc.
6.1.7 Smiths Group PLC
6.1.8 Fisher & Paykel Healthcare Limited
6.1.9 Lwenstein Medical UK Ltd
6.1.10 Vyaire Medical Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/cmo36y